Corn Wave Analysis – 18 April, 2022
April 18, 2022 @ 19:07 +03:00
• Corn rising inside impulse waves 3 and (iii),
• Likely to reach resistance level 840.00
Corn futures continue to rise inside the accelerated impulse waves 3 and (iii), which belong to the impulse wave (5) from last month.
The price earlier broke the resistance level 775.00 (which is the upper border of the sideways wide price range from the start of March) – which added to the bullish pressure on Corn.
Given the strong uptrend – Corn can be expected to rise toward the next resistance level 840.00 (target price for the completion of the active impulse wave 3).